1AXP trade ideas
AXP - Up or down??American Express has entered a consolidation period after a double top, with a big bearish divergence on the MACD. A month ago, price closed below the 50ma which acted as strong support in the past, and couldn't get back over it and stay there. If we will see a strong breakout out of the rectangle, then that could indicate the next direction. My guess is that we will see a downtrend, but right now, except the bearish divergence we have no evidence of that, Time will tell.
